D.C. Debt Limit Could Hinder Walter Reed Reuse
- April 4, 2011
A cap on the amount of money the District of Columbia can borrow could slow the city’s effort to redevelop Walter Reed Army Medical Center by restricting its ability to invest in new infrastructure.
The cap limits the city’s bond payments to 12 percent of total spending, a threshold the city already is projected to exceed over the next six years, reports the Washington Post. As a result, the city will need to find ways to reduce borrowing.
Officials are looking at alternate funding sources and are pointing to the recent redrawing of the boundaries of the city’s parcel at Walter Reed as a step that will boost private investment, according to the Post.